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Saw the Dow go over the 14000 points on the weekend and it brought back distant memories. 15/10/2009 Dow flew over 10000 points so up over 4000 points in just over 3 years and the Magnificent ASX up from 4859 to a marvellous 4926.A piddling 67 points in over three years.Congrats to those who have only been in the market 6 months but thats a very few.Labor and Julia in particular must be very proud on all the wealth they haven't given Australians over the past three and a half years. Can't wait until 14/10/2013. PS What happened at 10.10am?

Commenter

Jonaze

Location

Sydney

Date and time

February 04, 2013, 10:49AM

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"Aquila Resources has put its $7.4 billion West Pilbara iron ore project on ice at least through June due to funding difficulties, sending its shares down nearly 10 per cent."

Probably the same as it has done over the previous 10 job ads down months - nothing! Because people realise how well our economy is doing despite the negative growth in the US and Europe. Ths rest of the western world would love our economic "problems"!!

Commenter

Life Is Good

Location

The Real World

Date and time

February 04, 2013, 1:04PM

That's nice except prices are falling.

Commenter

Allan

Location

Prahran

Date and time

February 04, 2013, 1:13PM

Noticed that the APM monthly auctions figures are now posted at

http://domainmastheads.homepriceguide.com.au/Research/AuctionResults/

Remember this article talking about how the strong the auction results were for the last 8 weeks in Sydney?

Had one of my staff knockup a spreadsheet looking at the weekly reporting by APM compare to the monthly results.

His analysis showed that the weighted mean overstatement of weekly results by APM for Aug - Dec 2012 was 10.5%. In other words every week that was 60% was actually on 55.5%.

ED: We asked APM about this. Here's Dr Andrew Wilson's response: "Comparing apples with oranges - weekly model and monthly model are different - but trend of each is the same."

Commenter

Allan

Location

Prahran

Date and time

February 04, 2013, 11:39AM

How are they different? They are APM's own numbers and are calculated off the same set of results.

Also Sydney Aug to Dec monthly results were:

Aug 59%Sep 58%Oct 56%Nov 55%Dec 53%

Hwow are these numbers indicative of an improving market and strong results?

Commenter

Allan

Location

Prahran

Date and time

February 04, 2013, 1:37PM

Is Jonaze all tere? Has he not realised that the Stockmarkets of the US ( and the rest of the World) are being fuelled by ultra low interest rates and the QE policy settings. It's cash looking for a return. Australia, because the economy has been relatively well handled by Gillard Labor has maintained higher returns and it is only now that rates are dropping that people are turning to riskier assets.His comments are representative of too many Australians who whinge without thinking.I suggest he reads Ross Gittins in today's paper.

Commenter

Jismoff

Date and time

February 04, 2013, 11:28AM

No Gillard/Swann stabbed a first term PM in the back at the behest of mining interests and effectively doubled down on mining at the expense of flatlining non-mining sectors of the economy.

Now they are up against the coalition and half of their own party.

Good luck.

Commenter

Allan

Location

Prahran

Date and time

February 04, 2013, 11:54AM

Hey careful there Jismoff, sensible comments like yours have no place here.

You're only going to inflame the trolls.

Commenter

Space Hippy

Location

70s

Date and time

February 04, 2013, 12:58PM

The latest newspoll numbers out today indicate that the Gillard government will be creamed.

Commenter

Allan

Location

Prahran

Date and time

February 04, 2013, 1:38PM

@Jismoff

Our economy has been held up by selling national and private assets and debt. It will now unravel at and exponential rate. How anyone can see such folly as good, I'll never comprehend.

Check out the massive candle stick on the XAO.

Commenter

JohnB

Date and time

February 04, 2013, 2:31PM

Anyone have any market based comments rather than political, or am i in the wrong place for that.

Commenter

J.

Location

Syd.

Date and time

February 04, 2013, 10:59AM

Wrong place...

When people finally wake up to the fact that it does not matter whether it's Labor/Liberal/Green, whoever you call them, "the gubbermint" have been, are, and probably always will rob us at every turn. One day maybe people will hold the government to account for it's actions. Until such time all hail the central planners, comrade.

Commenter

Bye Bye Fiat Money

Date and time

February 04, 2013, 2:43PM

Saw the Dow go over the 14000 points on the weekend and it brought back distant memories. 15/10/2009 Dow flew over 10000 points so up over 4000 points in just over 3 years and the Magnificent ASX up from 4859 to a marvellous 4926.A piddling 67 points in over three years.Congrats to those who have only been in the market 6 months but thats a very few.Labor and Julia in particular must be very proud on all the wealth they haven't given Australians over the past three and a half years. Can't wait until 14/10/2013. PS What happened at 10.10am?

Commenter

Jonaze

Location

Sydney

Date and time

February 04, 2013, 10:49AM

And many now calling a Top in the DOW, and other world markets.

I knew it would go pear shaped not long after I dipped a toe into the Casino.

Commenter

4500

Location

This Black Will Come Back

Date and time

February 04, 2013, 12:24PM

Ding dong, Dow Jones @ 14000 ding dong.

Commenter

Magoo

Date and time

February 04, 2013, 10:36AM

Gillard's No1 fan Grattan is leaving fairfax. This will be interesting.

Commenter

Another Grump ( I have a leaky tap I call Bracks and a hissing toilet I call Brumby))

Location

Vic (state of despair)

Date and time

February 04, 2013, 10:36AM

10:15 Didn't take long for the market to lose its nerve !

Commenter

Another Grump ( I have a leaky tap I call Bracks and a hissing toilet I call Brumby))

Location

Vic (state of despair)

Date and time

February 04, 2013, 10:20AM

I don't believe I see many many Bulls,Shiploads of Bulls..

Commenter

Psychic

Date and time

February 04, 2013, 10:17AM

So what do you believe?

Commenter

Soothsayer

Date and time

February 04, 2013, 10:59AM

He reckons he believes what he sees. lol

Commenter

Bocky Coy

Date and time

February 04, 2013, 11:48AM

Should've said "carloads" of bulls. Not sure if they'll fit in, but one can always try. Anyway, sounds like a lot of bull to me.

Commenter

Gordon Gekko

Date and time

February 04, 2013, 12:01PM

Have you heard the story about the old bull, and the young bull ?

Commenter

4500

Location

This Black Will Come Back

Date and time

February 04, 2013, 12:26PM

Yep. Sure have. So, what was the old bull doing to the young bull?

Commenter

Gordon Gekko

Date and time

February 04, 2013, 1:19PM

What is LNC being punished for ?.

Commenter

Another Grump

Location

Melb

Date and time

February 04, 2013, 9:54AM

Report on weekend raised doubts about per barrel cost of oil, I think about $30 as stated by Bondy.

Commenter

Gordon Gekko

Date and time

February 04, 2013, 10:30AM

Yeah probably right, but i beleive oil is the smaller part of their operations and the so called big find will not be open for 3 or 4 years by which time the cost of oil will be anyones guess. Still, the market does not run on logic, so no surprise.

Commenter

Another Grump ( I have a leaky tap I call Bracks and a hissing toilet I call Brumby))

Location

Vic (state of despair)

Date and time

February 04, 2013, 10:48AM

Spoke to LNC;s CFO when stock plummetted down to 50c. He said that if the company had a "Fire Sale" and threw everything the owned on the front lawn the would get at least 1.80 a share. Thats probably a fair price but the No 1 killer to LNC's share price was the introduction of the Carbon Tax.Once again Thank you Julia ( for nothing).

Hi Snidery,Are you finished with this all togther or will you pick up the baton at a later date ?. I am willing to continue it on for another 10 weeks if the rest of the gang want to continue.

ps On another issue, you may note I changed part of my signature to Vic (State of Despair), and that was before they proposed bringing that damn Bracks back. WTFH.

Commenter

Another Grump

Location

Vic (state of despair)

Date and time

February 04, 2013, 10:04AM

Need a break, is all, must knuckle down and finish my work - coupla months. Can send you the spreadsheet if you'd like after next week (last round). Has all formulas, etc. Put your e-mail address in format I can send to you.

Or -

My e-mail - flick me a note and I'll send you spreadsheet:

november24sc AT yahoo DOT com DOT au

(Replace offending words with punctuation)

Also, Thomas Hunter (one of the authors of this blog) has my e-mail, if you have problems.

They probably sold as some are calling the end of rate cutting and know the non mining parts of the economy are set to weaken this year.

If only Julia and Glenn realised the AUD did not appreciate 60% solely because of commodity price increases and therefore will not go down with them any time soon as all that money from overseas is parked here for safe haven and yield as they destroyed their own currencies.

Time to respond in the currency war as by the time the election comes around that 8% manufacturing that Ross Gittens doesn't care about will vote Julia out of office.